News
The End of the Starting Period of the Bit Trade Mining Accelerator Service
Tuesday, December 29, 2020

Dear Bit Trade Customers,

We would like to remind you that the starting period of the BMA Service operation will end at 22:00 (UTC) tomorrow, on December 30. It means that registration of BMA Contracts will close, but all BMA Contracts registered until this date will be included in the principal period of the BMA Service operation ensuring one more cycle of return in bitbons.

In accordance with the concept of the Bit Trade transition period described in the news article Upcoming Updates on Bit Trade, bitbons, credited to the Contract Account upon automatic closure of BMA Contracts (when the BMA Index reaches +100%), can be transferred to the Bitbon One Space Buy and Sell Service.

Please note that this condition will apply to those BMA Contracts, which have been closed by the BMA Service automatically, i.e. without charging penalty.

We recommend you not to transfer bitbons from your Contract Account to the Main Balance before the Bit Trade global update. You will be able to do that much more profitably as soon as the Bit Trade transition period takes place thereby forming the primary liquidity of Bitbon One Space.

If you transfer your bitbons from the Contract Account to the Main Balance before the start of the Bit Trade transition period, they will remain in the Bitbon Prime Sell Service where you can sell them in accordance with the terms and conditions of this service.

Upcoming Updates on Bit Trade
Tuesday, December 22, 2020

Dear Bit Trade Customers!

The Bitbon System is being actively developed according to the development strategy set out in the Roadmap, and provides its Users with new opportunities with each stage of the development.

The Company’s management has made a grounded decision on the need to expand functionality of the Bit Trade service during the transition period, which in turn will contribute to the implementation of all planned services and additional tools outlined in the Bitbon System Roadmap as well.

Transition Period Stages

The transition period of the Bit Trade service will start in March 2021, and will consist of 3 stages: preparation, main and final.

Temporary division of bitbons into 2 types will be one of the key features of this period:

Bitbons Prime are primary bitbons purchased before the Bit Trade transition period. These bitbons can be sold under special sale conditions on the Bit Trade order board.

Bitbons One Space are bitbons purchased according to the Bit Trade Buy and Sell Conditions or transferred from a Contract Account of the BMA Service when a BMA Contract is automatically closed after the beginning of the transition period.

Two services will function during this period: Bitbon One Space Buy and Sell Service and Bitbon Prime Sell Service.

Due to this, the subject list of the Bit Trade service will be expanded and will include: users of the Bitbon One Space Buy and Sell Service, users of the Bitbon Prime Sell Service, Marketmakers, Affiliate Program participants and third-party trading platforms (exchanges).

Preparation Stage

(from March 2021 until One Space web launch and One Space mobile update)

During this stage, the Bit Trade users will have the following opportunities:

  • Users of the Bitbon One Space Buy and Sell Service will be able to buy and sell bitbons with 0.15 commission.
  • Users of the Bitbon Prime Sell Service will be able to sell bitbons with 0% commission and no price or number limitations, as well as participate in Consensus building mining.
  • Marketmakers will be able to operate in accordance with special trading conditions, while receiving remuneration from the trading turnover.
  • Affiliate Program participants will be able to receive remuneration of up to 20% for promoting Bit Trade products and services.

Please note that bitbons will not be transferred between Customer’s accounts on the Bit Trade service when the transition period begins. This function will be available in a new service One Space.

Main Stage

One Space web will be launched and One Space mobile will be updated during this stage, which in turn will cause the following changes:

  • Users of the Bitbon One Space Buy and Sell Service will be able to:
    • transfer bitbons from the Bit Trade service to One Space;
    • manage their bitbons through One Space service;
    • participate in Consensus building mining in the Bitbon System.
  • Bit Trade Customers will be able to transfer bitbons One Space from their Main Balance to the Assetbox created in the One Space service account.
  • One Space users will be able to connect their Assetbox to any Assetbox involved in Consensus building mining in the Bitbon System.

In addition, the listing of bitbons on third-party trading platforms (exchanges) will be implemented during this period, as a result of which the customers of such trading platforms will be able to carry out transactions with the Bitbon digital asset using access to the Bit Trade service liquidity and receive remuneration of up to 20% of bitbon sales volume.

Final Stage

Change in the Remuneration Accrual Principle

We would like to inform you that with the beginning of the transition period, the Affiliate program participants remuneration accrual principle will be changed, that is, the amount of the Partners’ remuneration will depend on difference between bitbon price in the Bitbon One Space Buy and Sell Service and bitbon price in the Bitbon Prime Sell Service. At the same time, the maximum amount of remuneration can be 20% of bitbon One Space sales volume.

Updating Replenishment and Withdrawal Methods

The conditions for depositing and withdrawing funds of Bit Trade Customers will be updated in order to create more profitable and comfortable conditions for performing transactions with the Bitbon digital asset.

Thus, replenishment of the Main Balance and withdrawal of funds from it will be possible using the following methods:

  • direct bank transfer (deposit and withdrawal);
  • transfer using the Advanced Cash payment system (deposit and withdrawal);
  • transfer using Visa/Mastercard (deposit);
  • transfer to bank cards of the Bit Trade Customers (withdrawal);
  • direct deposit and withdrawal in stablecoins USDT (ERC20, OMNI, TRC20).

Please note that when the transition period begins, all operations on the Bit Trade service will be carried out only in US dollars (USD).

You can learn more about the transition period, as well as the factors affecting formation of difference between bitbon One Space price and bitbon Prime price in the update-related presentation “The Concept of Increasing Bitbon Liquidity During the Transition Period”.

Bit Trade — Service for Accounting of the Bitbon Digital Asset Purchase and Sale
Monday, December 14, 2020

The world is changing rapidly, the development of digital economy is being modernized, while financial markets are becoming increasingly more popular along with exchanges and other electronic trading systems.

In turn, Bit Trade is also developing and adding new tools and special services in accordance with its own development strategy, which is why, even at this stage, it is already a versatile service. Therefore, we can no longer view Bit Trade as an exchange because Bit Trade does not correspond to the characteristics of an exchange, the main purpose of which is margin trading. Bit Trade has a different function: it provides services and tools to purchase and sell the Bitbon digital asset, which is an intangible asset, a product, essentially, and, unlike cryptocurrencies, has a legal status and can be used legally.

And so it becomes obvious that Bit Trade is not an exchange, it is a service for accounting of the Bitbon digital asset purchase and sale that includes an entire set of systematically functioning services.

Dear Bit Trade Customers,

Due to everything mentioned above, we would like to inform you that a number of changes have been made on Bit Trade: the content of all pages and sections has been updated along with legal documents that regulate the operation of the service.

The updated documents are listed below:

Terms of Use of Bit Trade Products and Services

AML/KYC Policy

Bit Trade Privacy Policy

Anti-Fraud Policy

Cookie Policy

Risk Warning

Terms and Conditions of Bitbon Transfer Service in the Bitbon System

Affiliate Program Terms and Conditions

Buy and Sell Conditions

We advise you to read the updated legal documents and sections of the website in order to use only the up-to-date information when working with Customers and Partners in the future.

Additional Feature for Replenishing the Contract Account
Tuesday, December 01, 2020

Dear Bit Trade Customers,

We would like to inform you that Bit Trade has been updated today, on December 1, 2020, — one more feature to replenish the Contract Account has been added for Users of the Bit Trade Mining Accelerator Service.

From now on, each User of the BMA Service, who participates in the Affiliate Program, will be able to replenish their Contract Account by transferring Bitbons received as remuneration for the Affiliate Program.

This feature will facilitate the registration of even more BMA Contracts, which, therefore, will positively influence the price and liquidity of Bitbon.

In addition, we would like to inform you that, for your convenience, we have added the “Community PoS Mining” subsection on the “Customer Support” page (FAQs tab) containing answers to the most common questions that Bitbon System Miners may have.

Notice on Cancelling the Commission when Transferring Bitbons
Friday, November 27, 2020

Dear Bit Trade Customers,

We would like to inform you that, starting from November 27, 2020, the following transfer conditions will apply to the BMA Service Users who registered BMA Contracts before November 26, 2020: no commission will be charged for the transfer of Bitbons between accounts of Bit Trade Customers.